May 26, 2004
WHO EVER TOOK IT SERIOUSLY?:
Prodi: 'radical change' needed for EU to catch US (Richard Carter, 25.05.2004, EUOBSERVER)
Commission President Romano Prodi on Tuesday (25 May) called for a "radical change" in EU economic policy if it is to succeed in its ambitious goal to overhaul the US and become the "most competitive economy in the world by 2010" - its so-called Lisbon strategy.Speaking at a meeting of the European Economic and Social Committee, Mr Prodi said that the process is undergoing "great difficulties" and declared, "if we want the Lisbon strategy to be a success, we need to radically change European economic policy".
Echoing his sentiments, competition commissioner Mario Monti asked, "how can we seriously try to become the most competitive economy in the world if we do not put our money where our mouths are"?
You can't--the very notion of a viable and competitive Europe is risible. Posted by Orrin Judd at May 26, 2004 9:05 AM
Who took it seriously? A large number of young euros, for one. A year and a half ago, one of my friend's cousins came over from Germany. We all went out for a beer (of superior Canadian beer and nachos). After the usual expressions of contempt (Bush, war on terror is imperialism, etc, etc, etc) he got into the future and proclaimed that soon Germany and the EU would surpass the USA in economic growth and wealth. The USA was on a fast track to nowhere except universal poverty, etc.
I tried to simply point out the enduring difference in the unemployment rates to start, but he was having none of it.
I'm quite sure he'll be waiting for a very long time.
Posted by: BC Monkey at May 26, 2004 9:34 AMLots of pundits here took it seriously in the '90s, when they thought we weren't going to have any other threats to worry about. We had a new, committed opponent; we weren't even aware of it; the Euro was going to be the new reserve currency; and our whole economy would collapse when foreigners stopped buying our debt.
Posted by: David Cohen at May 26, 2004 9:44 AMDavid:
That was after they stopped worrying about Japan and before China, right?
Posted by: oj at May 26, 2004 9:56 AMOJ
I don't "worry" about China. China is going to become freer and more prosperous in the future. In my opinion, their society (and their nominally Communist Govt.) has accepted all premises of a free Capitalist system and now its' just a matter of time.
BC Monkey --
They made that prediction after how many beers? Surely not just one or two...
Posted by: MG at May 26, 2004 10:45 AM...until there are five Chinas...
Posted by: oj at May 26, 2004 10:45 AMFive Chinas governed by the five families, eh?
Posted by: jim hamlen at May 26, 2004 11:08 AMh-man: The death throes of a dictatorship may be when it is most dangerous, like a wounded animal.
Posted by: pj at May 26, 2004 11:09 AMOJ and PJ
Granted there are a few details to be worked out.
Posted by: h-man at May 26, 2004 11:18 AMI'd prefer 7 Chinas governed by
Seven Chinese Brothers.
Not to defend the Euro Weenies, but I bet the US economy would be an entirely different thing if it were to become, ceteris paribus, 50 independent country economies.
And the difference wouldn't be good.
Posted by: Jeff Guinn at May 26, 2004 12:37 PMWhich was the whole point of the Constitution, Jeff.
Posted by: Ptah at May 26, 2004 12:40 PMJeff:
The facts suggest you're wrong: http://www.brothersjudd.com/blog/archives/010141.html
Posted by: oj at May 26, 2004 12:51 PM"Which was the whole point of the Constitution, Jeff."
Exactly,isn't it a pity we don't use it anymore?
Hey,maybe we can sell it to Europe!
h-man,a nationalistic,militaristic China on a rampage as the elites try distract people from any economic downturn is not a happy thought.
Nope,not happy at all.
Posted by: noone at May 26, 2004 1:54 PMnoone:
It's an ugly scenario, although the Chinese military capacity for any kind of force projection will be quite limited for the next five or ten years.
Posted by: mike earl at May 26, 2004 2:57 PM